Yes, it is not looking bad. But neither is it looking like we are finally out of the woods. Could be nothing but a glade.
Hello glade expert. I dont know wtf a glade is (an air freshener?) but you were right about it. Now can you tell us if the current chart is just another glade or is it the real deal?
Being vague helps in staying right.
But from the charts I see that this bounce is considerably more meaningful than the last one (Feb 2).
The Feb 2 minibounce had no correlation with a previously established level on the way up.
The Jan 17 bouce had one for example, the dip at Nov 30.
Our current one correlates with Nov 13. In addition the rise in volume is considerable more natural than the one a few days back. The hard bend in volume hints at few big players. The current one looks more like a mass of people deciding it might be a good idea to get back in.
In addition the price rise before the Nov 13 correlation was a lot more "reasonable", as far as one can call anything in here "reasonable". Around the 6000$ range on the way up the real shenanigangs began.
In any case I expect the short term to unfold similar to the Jan 17 bounce. From here some more up. Up there we will see. But down our next real chance of stop would be 3300. I don't expect a drop that far though. People who went in at these price ranges and havn't cashed out by the time it hits those levels again will probably not cash out when it is there. At these price ranges we're well past the hype with BTC on tap and grandma buying the coin. So the selling pressure should be much less existencial.
Edit:
Looking at the bunch of CCMFs being posted while I wrote this my inner lizard says "down it goes"
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